Shares of Scotts Miracle-Gro Company (NYSE:SMG) sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of The Scotts Miracle-Gro (NYSE:SMG – Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. . . The fund owned 24,067 shares of the basic materials company’s stock after selling 931 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Scotts Miracle-Gro were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC increased its position in Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Scotts Miracle-Gro in the second quarter valued at about $25,000. Versant Capital Management Inc raised its stake in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Scotts Miracle-Gro by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Scotts Miracle-Gro by 11,216.7% in the first quarter. Abich Financial Wealth Management LLC now owns 679 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 673 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s shares.

Insider activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of Scotts Miracle-Gro stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the sale, the director now directly owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In related news, major shareholder Hagedorn Partnership, LP sold 85,130 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, Director Stephen L. Johnson sold 960 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the transaction, the director now owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. The disclosure for this sale can be found here. Insiders sold 89,078 shares of company stock worth $6,325,042 in the last quarter. 26.46% of shares are owned by insiders.

Scotts Miracle-Gro Price Performance

SMG opened at $83.41 on Friday. The company has a fifty day moving average price of $71.36 and a 200 day moving average price of $69.08. Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $83.69. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -13.37 and a beta of 1.75.

Scotts Miracle-Gro (NYSE:SMG – Get Your Free Report ) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. In the same period last year, the firm earned $1.17 per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a dividend of $0.66 per share. The ex-dividend date was Friday, August 23. This represents a dividend of $2.64 on an annualized basis and a dividend yield of 3.17%. Scotts Miracle-Gro’s payout ratio is currently -42.31%.

Analysts on Wall Street are forecasting an increase

Several analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $80.00, based on data from MarketBeat.com.

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Scotts Miracle-Gro Company Profile

(Free Report)

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets and sells lawn, garden care and indoor gardening and hydroponics products in the United States and internationally. It operates through three segments: US Consumer, Hawthorne and Other. The company provides lawn care products, including lawn fertilizers, grass seed products, distributors and other durable products, as well as lawn weed, pest and disease control products; and garden and landscape products, which include water soluble and continuous release plant foods, potting mixes, garden soils, mulches and ground cover products, plant pest and disease control products, organic garden products and live stock and seeding solutions.

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